How to Use a Stock
Screener
Everyone wants to know how to
find a great stock to purchase. Where do you go to find such information? Who
can you ask? Whom do you
trust? While there are no guarantees when it comes to
picking companies or predicting
prices, there is a tool that is popular and helpful. It's called a screener
and it can help you search
through thousands of companies with the parameters you
are looking for.
Screener Options Screeners can
give you an infinitely-long list of parameters to set for the search. The most
common parameters include
Share Price, Trading Volume, P/E Ratio, Industry,
Dividends, Market Capitalization,
and others.
Example #1: Microsoft-type
Companies Let's say you want to find a company similar to Microsoft. You could
setup your screener with
ranges close to MSFT: - Share Price: $20 to $30 -
Volume: 50 to 75 million
shares per day - Industry: Application Software
- Exchange: NASDAQ
Example #2: Low P/E Oil
Companies Let's say you want to find an
oil company with a low Price
to Earnings (P/E) ratio, poised for growth. You could setup your screener
with these options: - P/E Ratio: 10 to 15 - Volume: 1 million
shares per day or higher - Industry: Oil & Gas Drilling &
Exploration
Example #3: Large-Cap Dividend
Companies Let's say you want to find a large company that pays a solid
dividend. You could setup your screener with these options: - Market
Cap: 10 billion or higher -
Dividend: 8% per year or higher
Narrow the Results After
running your screener you may end up with hundreds or thousands of results. You can
narrow the results down by
adding more parameters or making the ranges
smaller. Once your list is
small enough you can start doing research on the individual companies and
learning more about them. Look at their short-term and
long-term charts to make sure they are going the direction you want
them to. Also see what the professional analysts are saying about
these companies.
Where to Find a Screener There
are many screeners on the internet and most of them are free. Nearly
every online brokerage has
one, although you may have to have an account with
them to use it. You can find a
simple stock screener at HowTheMarketWorks or a more extensive one at
Yahoo! Finance.
Other Screeners There are
several different types of screeners out there, including ETF's, Mutual Funds, and
Bonds.
About the author:
Nicholas Swezey is the creator of
the Stock Market Game at
HowTheMarketWorks.com.
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Cramer's best stock picks & his latest bestseller FREE.
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